Home is where the Real E$tate is by Fergus

When it’s time to make an offer the first thing one needs to do is to discuss the offer terms with their realtor.  Your  realtor is expected to negotiate these terms on your behalf, but keep in mind that a successful negotiation is contingent on the type of market you are operating in and the type of home you have decided on. In the case of multiple offers or a hot market your room for negotiation is limited. Here are the key items to consider.  Offer price  Work with your realtor to determine your strategy whether it’s starting low, somewhere in middle or going for broke. Your realtor should pay close attention to the comps, specifically recent solds in the area, inventory notwithstanding. The longer a property has been on the market the better, and the more eager the seller is the better. For my part, I make a habit of contacting the seller’s representative to find out within reason as much as I can, but one should not forget that the seller’s agent has an oblig...

The first step in the home search process is to determine what you can afford with the help of a loan specialist and or financial advisor. Do your research. Look at online reviews and ratings to ensure you're working with a reputable lender and or better still seek a recommendation or two from your realtor who in all likelihood has the advantage of having worked with several. For my part, I advise seeing at least three local lenders. Each will work on setting you up for what is called ‘pre-approval’. While a pre-approval is not the final step in the process of qualifying for a loan, it signals to the seller and all parties involved that the buyer is serious and more likely to qualify.   Knowing your price range will bring your house hunting into focus since there is no sense in chasing after something you can’t afford. How much house you can afford depends on many factors, including your ability to cover the monthly housing payment and how much you can contribute toward the down p...